The Right to Buy scheme allows most council tenants to buy their council home at a discount. If you are thinking about buying your council home, the first thing to do is to use the government right to buy checker to confirm your entitlement.
From 06 April 2017 the maximum Right to Buy discount in London is £104,900.
The discount is for applications that are received on or after 6 April 2017.
For applications made before 6 April 2017 the previous Right to Buy maximum discount for London of £103,900 is applicable.
Check how much your home is likely to cost before applying using the right to buy calculator.
Some types of home are excluded from the scheme, including adapted homes and sheltered housing.
1. If you think you are eligible, apply to us now:
If you think you can buy your home and want to, please complete both the application form and the additional information form, sign and post back to us at:
222 Upper Street
London N1 1XR
Scanned, emailed copies of your application are not acceptable.
2. The Home Ownership team will assess your application
This will take up to 28 days. You will be notified by post of the decision to either admit or deny your application. You may need to attend the office in person at this stage to provide proof of ID.
3. Meeting with the Home Ownership team
If your application has been successful then you will be invited in for a face to face meeting with the Home Ownership team. You will need to bring one of the following forms of identification:
- Drivers licence
Scanned, emailed copies of ID are not acceptable.
4. Valuation of your home
Once your application to purchase your home has been accepted, the property must then be valued. The Right to Buy team will arrange for the property to be surveyed by the council’s Valuation Department and they will phone or write to you with an appointment time and date, along with a contact number 0207 527 2551 on which you can confirm or re-arrange the appointment.
5. Landlord’s Offer
We will issue you with your Landlord’s Offer (“Section 125 “) Notice. This will give you the valuation and the purchase price after taking off the discount. This is a very important document and you should read it very carefully and seek advice if you are not clear about any of the contents. You have 12 weeks to accept the Offer.
6. After acceptance
If you accept the Offer we will get floor plans drawn up and then your application will be passed to the Council’s Legal Services Department who will send the necessary legal documents to your solicitors.
At completion stage you will have already accepted the section 125 offer notice to purchase the property and floor plans will have been drawn and supplied to the Right to Buy team.
You will have also been informed to obtain your official mortgage.
At this stage the Council’s Legal Services Department will be instructed to draft the necessary legal documents which will then be forwarded to your solicitor.
Responsibilities to consider
Becoming a home owner is usually the biggest financial decision people make in their life. The discount available under the Right to Buy means that lots of tenants are thinking about buying their home.
It is important you consider the financial implications and other responsibilities you would have as a home owner before you decide if buying your home is the right choice for you.
Beware of people offering help
There are companies and individuals that offer tenants money to apply to buy the home on their behalf. You must not enter into this type of deal. Some tenants have ended up homeless through this. If you enter into this type of agreement, you will have to repay the discount. Any money that you make is unlikely to be enough to buy another home, and we will not provide you with another tenancy.
Have any questions?
Contact the Islington Home Ownership service
Phone 020 7527 7715